Alan Hart
Plano, TX (USA)
Role(s):
Founder/Owner/Principal
SoHo London Gastropub
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Startup
Location:
Plano
Industry:
Food Service/Restaurant
Year Founded:
2021
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Partnership
Description:
This start up will be a Miami style restaurant/entertainment venue. It will feature caribean style gormet tapas with food service from 4:00pm to 10:00 pm and differant types of live and DJ infused entertainment from 10:00 pm to 2:00 am. We will market to both the latin and anglo demographic in the Dallas area with a focus on the high end earners around our proposed north Dallas location.
We have developed a business plan and stabilized budget. A build out plan for the lease space and priced the labor and materials necessary to complete the project. With the right financing/loan underwriting the landlord is willing to provide a Tenant Improvement Allowance of between $10 and $20 a (URL removed). on a 5800 (URL removed). space we have ear marked. My wife and me are the sole owners and intend to remain employed at our present positions and contribute our time as sweat equity while the business is stabilizing. At some point my wife would transition into the general managers role but I would remain as an unpaid contributor.
Both of us have extensive careers in property management, I as a portfolio manager in multi family and my wife as a site level manager within the same industry.
Depending on the amount of the landlord contribution the initial investment required will range from $50,000 to $80,000 excluding TIA. That would include initial inventory, allowance for inital payroll and grand opening expenses.